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SAUDI FUND SETS CONDITIONS
RIYADH, DEC.12,2000

THE SAUDI DEVELOPMENT FUND HAS APPROVED AT ITS MEETING HELD UNDER THE CHAIRMANSHIP OF MINISTER OF FINANCE AND NATIONAL ECONOMY DR IBRAHIM AL-ASSAF THE GENERAL CONDITIONS FOR THE PROGRAM OF SAUDI EXPORTS

DR AL-ASSAF SAID THE PROGRAM OF THE SAUDI EXPORTS AIMS AT THE DEVELOPMENT OF THE SAUDI NON-OIL EXPORTS THROUGH EXTENDING THE REQUIRED FACILITIES TO THE FOREIGN INVESTORS SO AS TO ENCOURAGE THEM TO PURCHASE SAUDI COMMODITIES AND SERVICES THAT CHARACTERIZED BY THEIR HIGHER QUALITY

'THE PROGRAM AIMS AT THE CONTAINMENT OF THE DANGERS THAT MIGHT FACE THE SAUDI EXPORTERS THROUGH PROVIDING THEM WITH THE REQUIRED GUARANTEES , HE SAID

DR AL-ASSAF NOTED THAT THE SERVICES AND FACILITIES THAT EXTENDED BY THE PROGRAM INCLUDE ALL SAUDI EXPORTERS AND FOREIGN PURCHASERS FROM THE PRIVATE AND PUBLIC SECTORS AS WELL AS THE LOCAL, INTERNATIONAL BANKS AND FOREIGN GOVERNMENTS.

 DR AL-ASSAF POINTED OUT THAT THE FACILITIES AND SERVICES TO BE EXTENDED BY THE PROGRAM WILL TAKE PLACE GRADUALLY AND ADDED 'AT THE FIRST STAGE FACILITIES WILL BE EXTENDED TO FINANCING THE SAUDI EXPORTS , AND LATER FACILITIES WILL BE EXTENDED TO THE SERVICES AND PROJECTS.

'THE PROGRAM IS KEEN ON EXTENDING FACILITIES AND SERVICES THAT CONFORM WITH THE REQUIREMENTS OF DEVELOPMENT, MARKETING OF THE SAUDI EXPORTS AND THE CIRCUMSTANCES OF THE INTERNATIONAL MARKETS, HE ADDED

'BENEFICIARIES OF THE PROGRAM SHOULD BE OWNERS OF GOOD CREDIT RECORDS, HE SAID AND ADDED 'IT IS HOPED THAT THE PROGRAM WILL POSITIVELY CONTRIBUTE TO DEVELOPMENT OF SAUDI EXPORTS AND THEIR MARKETING AT THE INTERNATIONAL MARKETS, AND AT THE SAME HELP THE SAUDI EXPORTERS TO INCREASE THE VOLUME OF THEIR SALES AND EXPORTS, AND BROADEN THE SCOPE OF THEIR COMMERCIAL ACTIVITIES ABROAD'.

DR AL-ASSAF URGED THE SAUDI EXPORTERS TO CONTACT THE ADMINISTRATION OF THE PROGRAM SO AS TO GET ACQUAINTED WITH MORE DETAILS IN THIS RESPECT.

Source: SPA
©Saudia-Online
Date :12/12/00 8:40:00 PM

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 June 28, 2001 15:45:50